The German bunds slumped Monday as investors wait to watch the country’s ZEW economic sentiment index for the month April and eurozone’s consumer price inflation (CPI) data for March, scheduled to be released on April 17 and April 18 by 09:00GMT respectively.
The German 10-year bond yields, which move inversely to its price, jumped 2-1/2 basis points to 0.53 percent, the yield on 30-year note also climbed 2-1/2 basis points to 1.16 percent and the yield on short-term 2-year hovered around -0.56 percent by 08:40GMT.
The coming week should be a relatively uneventful one in the euro area. After last week’s final March inflation data from Germany, France and Spain fully aligned with their flash readings, the final euro area inflation numbers, which are due on Wednesday, should also match the earlier readings of 1.4 percent y/y for the headline rate and 1.0 percent y/y for the core.
Tomorrow, the ZEW will release its financial market analysts’ survey, while at the back end of the week on Friday we will receive the European Commission consumer sentiment indicator, which held up better last month as business sentiment deteriorated.
Finally, on Wednesday, the euro area construction output data is due to be received and the latest new car registrations figures. Focus on the other days of the week will largely be on the latest economic sentiment surveys for any hints on the strength (or lack) of economic momentum.
Meanwhile, the German DAX rose 0.07 percent to 12,451.24 by 08:50GMT, while at 08:00GMT, the FxWirePro's Hourly Euro Strength Index remained highly bullish at 100.73 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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